Stearic Acid Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Market is segmented by Feedstock (Animal-based Raw Materials and Vegetable-based Raw Materials), Application (Soaps and Detergents, Personal Care, Textiles, Lubricants, Rubber Processing, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for Stearic Acid in volume (kilo tons) for all the above segments.

Market Snapshot

Stearic Acid Market - Market Summary
Study Period:

2016-2026

Base Year:

2020

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

>5 %

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Market Overview

The Global Stearic Acid Market is projected to register a CAGR of over 5% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. Stearic acid is used in rubber processing for internal lubrication and adhesion. Several countries were forced to go in lockdown owing to the pandemic scenario, which led the automotive industry to minimize the consumption of materials like rubber, thus creating a negative impact on the demand for the stearic acid market. However, the consciousness regarding personal hygiene and clean surrounding has increased in the current situation, which has stimulated the demand for stearic acid-based personal care and household cleaning products, thus enhancing the market demand for stearic acid.

  • Over the short term, the increasing need for personal care products, the rapid growth of the cleaners and detergents industry, and the rising application of stearic acid in lead-acid batteries are expected to drive the market's growth.
  • However, fluctuating prices of raw materials are expected to hinder the growth of the market studied.
  • Advancement in sunflower oil varieties containing high stearic and oleic acids is likely to create opportunities for the market in the coming years.
  • Asia-Pacific region is expected to dominate the market and is also likely to witness the highest CAGR during the forecast period.

Scope of the Report

Stearic acid (octadecanoic acid) is a saturated fatty acid with long hydrocarbon chains containing a carboxyl group. It can be derived from fats and oils, which can be based on both plants and animals, by the saponification of the triglycerides using hot water with a temperature of around 100°C. The stearic acid market is segmented by feedstock, application, and geography. By feedstock, the market is segmented into Animal-based Raw Materials and Vegetable-based Raw Materials. By application, the market is segmented into Soaps and Detergents, Personal Care, Textiles, Lubricants, Rubber Processing, and Other Applications. The report also covers the market size and forecasts for the stearic acid market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (kilo tons).

Feedstock
Animal-based Raw Materials
Vegetable-based Raw Materials
Application
Soaps and Detergents
Personal Care
Textiles
Lubricants
Rubber Processing
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Increasing Demand from Personal Care Industry

  • Stearic acids are fatty acids that are derived from animal or vegetable fat oils after hydrogenation. It is widely used in the personal care and cosmetics industry as a surfactant and emulsifying agent.
  • Stearic acid is generally used for the production of stearates, such as sodium stearate, magnesium stearate, or calcium stearate, which is a component of personal care products. It is used in more than 3,200 skincare and hair care products in recent times.
  • Furthermore, the growing awareness for personal health and hygiene, along with increasing beauty consciousness, is expected to drive the demand for stearic acid.
  • As per Cosmetics Europe, the European Cosmetics and personal care industry was valued at about USD 95.32 billion in 2019, with a growth rate of about 1.5% compared to the previous year.
  • According to the Brazilian Association of the Personal Hygiene, Perfumery and Cosmetics Industry, the Brazil hygiene, perfumery and cosmetics industry accounted a 5.8% growth in revenue (ex-factory sales) during January to September 2020, when compared to the same period in 2019. During the same period, the personal care segment accumulated a 4.3% growth and the cosmetics segment remained stable with growth of 0.1%. Furthermore, the face skin care products category grew by 28.7% during Janurary to September 2020, when compared to the same period in 2019, which in turn stimulates the market demand for stearic acid.
  • Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.
Stearic Acid Market - Segmentation

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific was the leading consumer of cosmetics and personal care products owing to the growing urbanization and increase in the population of the younger generation in countries such as India and other developing nations.
  • Stearic acid has a large number of applications in soaps and detergents. It primarily fulfills the role of a thickener and a hardener, which helps the soap bar to retain its shape. It is because of stearic acid that soap particles are able to attach to dirt particles, loosening them to be washed away with water. The detergent and cosmetics industry is expected to contribute majorly to the consumption of stearic acid in the region.
  • The market is supported by the leading global giants situated in the region, such as L’Oreal, Procter & Gamble, Unilever, and more.
  • These companies are likely to expand production with growing needs and demand for cosmetics and detergents. The strong and robust cosmetics industry is driven by cutting-edge innovation and creativity.
  • With the various research and developments, expansions, and investments in cosmetic products, the market for stearic acid is expected to grow at a significant rate in the region, during the forecast period.
  • China is one of the major consumers of cosmetics. In March 2019, the retail trade revenue of cosmetics in China was amounted to about USD 4.33 billion and reached about USD 3.85 billion in March 2020, with a decline rate of about 11% mainly due to the COVID-19 impact.
  • According to the department sales survey by Japan Department Sales Association, Japan's cosmetics sale was valued at about USD 5.25 billion in 2019, with a growth rate of about 2% compared to the previous year.
  • Additionally, stearic acid is used in lubricant additives such as corrosion inhibitors and also can be employed in rubber processing for internal lubrication and adhesion. The automotive industry growth influences the demand for rubber and in turn stearic acid. As of Q3 2019, China had produced 18.17 million vehicles and reached 16.96 million vehicles by Q3 2020, registering a decline rate of about 6.66%, which in turn stimulates the demand for the studied market.
  • Therefore, the aforementioned factors are expected to show significant impact on the market in the coming years.
Stearic Acid Market - Regional Trend

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Competitive Landscape

The global stearic acid market is highly fragmented in nature. The major companies include IOI Oleo GmbH, Pacific Oleochemicals Sdn Bhd, Emery Oleochemicals, Procter & Gamble, and Merck KGaA, among others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Need for Personal Care Products

      2. 4.1.2 Rapid Growth of the Cleaners and Detergents Industry

      3. 4.1.3 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Fluctuating Prices of Raw Materials

      2. 4.2.2 Carcinogen Effect in High Concentrations

      3. 4.2.3 Unfavorable Conditions Arising due to the Impact of COVID-19

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Feedstock

      1. 5.1.1 Animal-based Raw Materials

      2. 5.1.2 Vegetable-based Raw Materials

    2. 5.2 Application

      1. 5.2.1 Soaps and Detergents

      2. 5.2.2 Personal Care

      3. 5.2.3 Textiles

      4. 5.2.4 Lubricants

      5. 5.2.5 Rubber Processing

      6. 5.2.6 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 Italy

        4. 5.3.3.4 France

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**/ Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 3F Industries Ltd

      2. 6.4.2 Acme-Hardesty Company

      3. 6.4.3 acme synthetic chemicals

      4. 6.4.4 CHANT OIL CO.,LTD.

      5. 6.4.5 Dongma Palm Industries (ZhangJiaGang) Co. Ltd.

      6. 6.4.6 Emery Oleochemicals

      7. 6.4.7 IOI Oleo GmbH

      8. 6.4.8 KLK OLEO

      9. 6.4.9 Merck KGaA

      10. 6.4.10 New Japan Chemical Co., Ltd.

      11. 6.4.11 Nimir Industrial Chemicals Limited

      12. 6.4.12 Pacific Oleochemicals Sdn Bhd

      13. 6.4.13 Procter & Gamble

      14. 6.4.14 PT.SUMI ASIH

      15. 6.4.15 PT. CISADANE RAYA CHEMICALS

      16. 6.4.16 Unilever

      17. 6.4.17 VVF L.L.C.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Advancement in Sunflower Oil Varieties Containing High Stearic and Oleic Acids

**Subject to Availability

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Frequently Asked Questions

The Stearic Acid Market market is studied from 2016 - 2026.

The Stearic Acid Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

  • Pacific Oleochemicals Sdn Bhd
  • Emery Oleochemicals
  • Procter & Gamble
  • Merck KGaA
  • IOI Oleo GmbH

Are the major companies operating in Stearic Acid Market.

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